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The quantitative view of Myerson regularity

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Schweizer, Nikolaus; Szech, Nora

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Corporate Editor Wissenschaftszentrum Berlin für Sozialforschung gGmbH
Abstract In mechanism design, Myerson regularity is often too weak for a quantitative analysis of performance. For instance, ratios between revenue and welfare, or sales probabilities may vanish at the boundary of Myerson regularity. This paper therefore explores the quantitative version of Myerson regularity, which we call λ-regularity. It measures how Myerson regular a distribution is. In doing so, we unify separate literatures in economics, computer science, applied mathematics and statistics. The concept has appeared before, e.g., under the names of ρ-concavity and α-strong-regularity. We provide many new results for quantitative auction and mechanism design. (author's abstract)
Keywords market mechanism; design; analysis; achievement; quantity; distribution; auction
Classification Basic Research, General Concepts and History of Economics
Free Keywords Regelmäßigkeit; Lambda-Regelmäßigkeit; Myerson Regelmäßigkeit; monotone Hazardrate
Document language English
Publication Year 2015
City Berlin
Page/Pages 35 p.
Series Discussion Papers / Wissenschaftszentrum Berlin für Sozialforschung, Forschungsschwerpunkt Markt und Entscheidung, Abteilung Ökonomik des Wandels, SP II 2015-307
Status Published Version; reviewed
Licence Deposit Licence - No Redistribution, No Modifications